Russia demoted as cause of US inflation — Analysis

While the US President blames Russia for the high price of oil, he now claims that the Covid-19 pandemic is the main reason.

US President Joe Biden on Tuesday admitted that Covid-19 pandemic locksdowns caused runaway inflation. But he blamed Vladimir Putin for the high prices of gas at home. Biden’s domestic popularity has suffered amid the worst inflation since 1981.

The White House has tried to blame the inflation on Russia’s military operation in Ukraine for the past six weeks, insisting on the phrase “Putin price hike”description of the skyrocketing pumps prices. Biden tried to repeat the talk point during a speech in New Hampshire Tuesday. “demoted”Russia is the main culprit.

They were “two reasons”Biden spoke out against the high prices. “The first was Covid. Because of the pandemic, we had disruptions in our supply of important materials, so prices went up.”He then tried to understand the disruptions in supply chains caused by pandemic lockdowns, back in 2020.

“And the second big reason for inflation is Vladimir Putin, not a joke,”He said then. “Last month, about 70% of the increase in inflation was the consequence of Putin’s price hike because of the impact of gas and energy prices.”

White House used the “Putin price hike”Since March 8, when the US bans the import of Russian oil or gas, this has been a talking point. Moscow, the Russian president replied that Moscow had “absolutely nothing to do with” rising US gas prices, as Russia’s exports to the US were “negligible”To begin.

“They just hide behind these decisions in order to deceive once again their own population,”Putin stated last month.

US inflation jumps to 40-year high

Recent polls show that most Americans are in agreement. Biden’s approval rating is only at 33% according to last week’s numbers by Quinnipiac, a pollster traditionally friendly to the Democrats. While Republicans and independent voters overwhelmingly blame Biden’s economic policies for the high gas prices, Democrats are evenly split between blaming Russia and believing greedy oil companies are price gouging. 

The US Bureau of Labor Statistics reported that March was the most inflationary month since 1981. Gas prices rose 18% from last month, and by 48% from the time last year.

It has been calculated that almost 80% of US Dollars have been printed in the time since Biden’s January 2020 election.

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